2026 Tax Deadlines: S-Corps, PLLCs, and Sole Proprietors

With the holidays in the rearview mirror, it’s time to review the approaching 2026 tax deadlines for different business types, such as S-Corps, PLLCs, and Sole Proprietors, before time runs out!

Deadlines Matter!

Each business structure has different filing requirements and deadlines, and missing those deadlines can result in extensions (which do not eliminate the taxes owed), additional penalties, interest, and stress.

Three Business Structures

1. Sole Proprietorship: A Sole Proprietorship is the simplest and most straightforward business structure (with a single tax treatment) that:

   1. Is owned and run by one person.

   2. Has no legal difference between the owner and the business. This means:

      1. The owner gets all profits, but

      2. Is also personally responsible for all debts, losses, and legal liabilities (unlimited liability).
         

         

   If you operate a business and haven’t registered as another entity, the IRS will likely consider you a sole proprietor, and all business income should be reported on your personal 1040 tax return with a Schedule C. (Source: IRS.gov)

   
   

   NOTE: You cannot register as an S-Corp as a “sole proprietor.” But, as a single-member LLC, you can register as an S-Corp with just one shareholder (the owner), with a limit of 100 shareholders.

   
   

   CON: While a sole proprietorship is the easiest structure to manage, the owner has:

   1. No personal liability protection; and

   2. Limited tax planning opportunities as the business grows.

2. PLLC (aka Professional Limited Liability Company): A PLLC is a specialized entity for licensed professionals (whereas an LLC or Limited Liability Company is a general business structure for anyone). PLLCs are specifically for professionals such as:

   1. Veterinarians.

   2. Doctors.

   3. Accountants.

   4. Lawyers.

   Rules in each state can vary, so always check your state's regulations to ensure compliance. The PLLC is meant to provide liability protection and personal asset protection for licensed professionals. A PLLC can have one or multiple owners.
   

   

   In addition, the PLLC offers flexible tax treatment instead of a single tax treatment, so work closely with a bookkeeper or tax professional for the most tax-efficient option from:

   1. Single-member PLLC: Taxed like a Sole Proprietor with Schedule C

   2. Multi-member PLLC: Taxed like a partnership with Form 1065

   3. Taxed as an S-Corp: Follows the S-Corp rules (below)

      
      

3. S-Corporation (aka S-Corp): An S-Corporation (S-corp) is not a type of legal entity; instead, it’s a tax election/ designation with the IRS that requires the Form 1120-S tax return document. This type of business structure can offer significant savings for profitable businesses by potentially reducing self-employment taxes and avoiding corporate-level (aka C-Corp) tax, or double taxation, on income. In contrast, corporations are double-taxed:

   1. First, as corporate profit, and

   2. Then again, as dividends to owners.

      
      

   In an S-Corp, owners are paid a salary, subject to payroll taxes, and remaining profits may be distributed without self-employment tax. Owners will receive a Schedule K-1 to report income on their personal return. (Source: TurboTax)

   An S-Corp comes with more compliance and payroll requirements; so if you elect to be an S-Corp, ensure it’s set up and managed correctly with the required payroll filings throughout the year.
   

2026 Tax Deadlines and Forms

1. Sole Proprietorship

   Deadline: April 15th

   Forms: Form 1040 + Schedule C

2. PLLC

   Single-member PLLC Deadline: April 15th

   Forms: Schedule C Multi-member PLLC Deadline: March 15th

   Forms: Form 1065

   Taxed as an S-Corp:

   Deadline: March 15th

   Forms: Form 1120-S and Schedule K-1 with personal returns
   

3. S-Corp

   Deadline: March 15th

   Forms: Form 1120-S + Schedule K-1 with personal returns

   
   

Summary

Are you unsure about the proper bookkeeping, business structure, or tax strategy to stay compliant and reduce your taxes legally? (Source: SBA.gov)

Reach out to us for expert guidance to ensure your business’s overall financial health and long-term growth today to avoid guessing or procrastinating with your business’s future!

Piece of Mind Bookkeeping specializes in supporting veterinary practice owners with stress-free bookkeeping and financial management, tax preparation, and compliance with current IRS definitions, limits, and rules to protect your business.

Need additional support and personal guidance?

Reach out to Piece of Mind Bookkeeping today by clicking here.